Frauds

Former pensions minister Ros Altmann has called for pension transfers to be put on hold for six months, as fund values could be inaccurate due to the current market turmoil.

https://www.ftadviser.com/pensions/2020/03/23/altmann-calls-for-six-months-pension-transfer-hiatus/

The Pensions Administration Standards Association has created a cyber crime and fraud working group, aimed at creating standards to better protect pension schemes and their members.

https://www.ftadviser.com/pensions/2020/03/25/pasa-launches-cyber-crime-and-fraud-working-group/

As criminals seek to capitalise on the Covid-19 pandemic, we are being urged to be more vigilant against fraud, particularly about sharing financial and personal information.

https://www.shropshirelive.com/news/2020/03/27/warning-issued-over-fraud-and-scams-during-covid-19-pandemic/

In 2019, there were 122,437 cases of APP fraud in the UK. Banks lost £456 million.

https://www.cbronline.com/news/anti-fraud-deadline

A FRAUDSTER fleeced his girlfriends of tens of thousands of pounds, a court heard three years ago.

https://www.herefordtimes.com/news/regional/18324991.crime-files-fraudster-jailed-fleecing-girlfriends-tens-thousands-pounds/?ref=twtrec

Syedur Rahman of Rahman Ravelli outlines push payment fraud and the value of pursuing injunctions in such cases.

https://www.rahmanravelli.co.uk/articles/tackling-push-payment-fraud/

FRAUDSTERS have been targeting elderly and vulnerable people self-isolating due to coronavirus.

https://www.herefordtimes.com/news/regional/18319038.scam-targets-elderly-virus-pandemic/?ref=twtrec

Losses from bank transfer fraud soared to £456m last year, despite dozens of banks signing up to a code to protect their customers from these type of scams.

https://www.which.co.uk/news/2020/03/bank-transfer-fraud-losses-soar-to-almost-500m-in-2019/

In total, these advances are worth an estimated £100-£150 million, a report by the spending watchdog has indicated.

https://scottishhousingnews.com/article/universal-credit-claimants-suspected-of-150m-advances-fraud

There have been 105 cases of Covid-19-related fraud cases reported to Action Fraud since February 1 2020, and total losses of around £970,000.

https://www.professionaladviser.com/news/4012824/coronavirus-related-fraud-causes-losses-gbp970